Question
Question 9 of 10 View Policies -/6 : Current Attempt in Progress Splish Inc. uses the allowance method to estimate uncollectibles. The company produced
Question 9 of 10 View Policies -/6 : Current Attempt in Progress Splish Inc. uses the allowance method to estimate uncollectibles. The company produced the following aging of the accounts receivable at year-end. (a) Calculate the total estimated uncollectibles based on the below information. Total Accounts receivable $342.900 % uncollectible Estimated Bad debts $ eTextbook and Media List of Accounts Save for Later (b) - (d) (b) (c) (d) Num 0-30 31-60 $105,100 $74,100 2% 5% $ $ Attempts: 0 of 5 used Submit Answer Prepare the year-end adjusting journal entry to record the Bad Debt Expense using the aged uncollectible accounts receivable determined in (a). Assume the unadjusted balance in Allowance for Doubtful Accounts is a $8,000 debit. Of the above accounts, $4,800 is determined to be specifically uncollectible. Prepare the journal entry to write off the uncollectible account. The company collects $4,800 subsequently on a specific account that had previously been determined to be uncollectible in (c). Prepare the journal entries necessary to restore the account and record the cash collection. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No Account Titles and Explanation Debit (b) (c) Credit
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